pcNewsWire – QuikFlo Health Inc. (TSX-V: QF; FSE: 1QF) has completed third closing of its previously announced non-brokered private placement, issuing 9,314,025 units at a price of $0.075 per unit for gross proceeds of $698,551.88.
Proceeds will be used for working capital and future acquisitions.
QuikFlo Health has issued 82,480,974 units for aggregate gross proceeds of $6,186,073.05 in three closings.
QuikFlo announces third closing of private placement
Calgary, Alberta, May 18, 2017 – QuikFlo Health Inc. (“QuikFlo” or the “Company”) (TSXV:QF)(FRANKFURT:1QF) announces that it has closed the third closing of its previously announced non-brokered private placement. The Company issued 9,314,025 units at a price of $0.075 per unit, with each unit consisting of one common share and one half of a share purchase warrant entitling the holder to purchase one additional common share for $0.15 for a period of 2 years from closing. The warrants will contain a forced conversion provision that if the shares of the Company trade at $0.25 or more for a period of 10 trading days, the Company has the option to accelerate the expiry date to no less than 30 days from a press release advising of the same. The proceeds of $698,552 will be used for working capital and future acquisitions. Securities issued pursuant to this first closing are subject to trading restrictions until September 18, 2017.
The shares of Quikflo are currently halted from trading pursuant to the policies of the TSX-V Exchange. Any future material acquisitions by the Company, including any acquisitions involving the proceeds of the private placement, will be subject to the approval of the Exchange.
For further information relating to this, please contact David Lane, president or Investor Relations for the Company at +1 604 428-0511.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.